Protecting What Matters Most

AG Financial Insurance Solutions is a full-service agency that provides insurance coverage and risk management guidance for churches, ministers, congregants, and related ministries. With over 200 years of combined insurance experience, our team will assist you every step of the way, ensuring that you and your ministry are thoroughly protected.

For more than 10 years, AG Financial Insurance Solutions has been exclusively serving the insurance needs of churches, ministries, and faith-minded individuals. Partnering only with carriers rated “A-” or higher by A.M. Best, we specialize in creating customized plans at affordable rates.

AG Financial Insurance Solutions specializes in protecting churches, schools, ministries, and other nonprofit organizations, as well as businesses. We love what you do for the Kingdom, and that’s why we are committed to providing value-added risk management services and the best coverage at the best possible rates. Learn more about Property & Casualty Insurance

Mission Assure provides coverage for mission trips, camps, youth outings, retreats, and other events a church or district may have. Created specifically for the Assemblies of God, our Mission Assure program provides superior protection for a low per-person, per-day premium. Learn more about short term insurance

AG Financial Insurance Solutions offers life insurance customized to fit your personal and ministry needs. Because we work with only “A-” or higher rated carriers, you have the assurance of receiving the most competitive pricing and quality coverage.Learn more about life insurance

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Risk Management

Ministries are often faced with issues that can cause disruptions, loss of resources, and heartache. While it can be difficult and time-consuming to focus on every area of concern, the primary issues can and should be addressed. Practicing risk management helps to increase safety and security for children, families, church workers, and leaders, while helping your church avoid costly disruptions.

Our Church Risk Management Guide can help you recognize areas of risk and learn how to proactively address them. From establishing a church safety and security team to financial protection to emergency preparedness, this guide can assist you in protecting your church and congregants.

riskmgmtLIVE is a monthly video series featuring Dr. Richard Hammar and Jerry Sparks, leading experts on risk management for churches and ministries.

During each session, they discuss liability issues and answer submitted questions. Topics are chosen based on timeliness and relevance for the church, including subjects like concealed carry weapons, church social media use, discrimination laws, sexual orientation laws, volunteer screening, and more. Click here to ask a question or suggest a topic.

AG Financial Insurance Solutions can handle all of your bonding needs, including contracting, license, and permit bonds. If your church or organization needs a bond of any kind, please call 877.616.6206 or email us at info@agfinancialinsurance.com.

Every church needs two types of insurance: property and liability (casualty). Property insurance covers the things the church owns and should be calculated based on what it would cost to replace them (replacement cost value). Liability insurance covers actions that could leave the church liable for damage to others, including injuries, possessions, and reputations. In our experience, it is crucial for churches to have at least the following liability coverages:

General

Sexual misconduct

Directors, officers, and trustees (DOT)

Business auto

Hired and non-owned auto

Pastoral counseling

Workers’ compensation

For more information about property and liability insurance and to understand how much coverage your church needs, download The Church Insurance Guide.

Most churches should secure coverage based on the replacement cost value. This will provide enough coverage to rebuild facilities or replace property with new items of like kind and quality. Make sure your agent does a Mitchell Swift Appraisal to determine the replacement cost for your building.

Churches may choose actual cash value if the facilities are in disrepair or the church would never rebuild that type of building. Agents determine this value by taking the amount to replace the building or contents and then subtracting the accumulated depreciation.

Workers’ compensation insurance is needed for all churches. It is not subject to a deductible and includes medical payments for all employees as well as disability payments until the employee can return to work.

Terminology

Risk management is the process of assessing the likelihood of an accident and its potential financial impact on your church—increased insurance premiums, damaged reputation, financial settlements, legal fees—and then taking steps to help prevent the accident before it happens. But more than just helping you avoid an expensive lawsuit, risk management is about protecting those to whom you minister. You’ve been entrusted with providing a safe place for people to learn and worship. Comprehensive risk management policies both maximize the safety of your congregation and minimize liability for your church.

Coinsurance is the percentage of insurance to the property value. Most companies require that a coinsurance rate of 80% or 90% of the property value be in place at the time of a loss. If this percentage is not met, a coinsurance penalty may result in the event of a claim. For example, if your property is worth $100,000 and the coinsurance requirement is 80%, there would need to be at least $80,000 of coverage in place to pay a claim without incurring a penalty. This penalty could be costly. It is determined by taking the amount of coverage you have and dividing it by the amount of coverage you should have according to the coinsurance requirement. Continuing with the above example, if you have $40,000 of coverage instead of $80,000 (50% of the amount required), the insurance company may penalize you by paying only 50% of your loss.

To avoid a coinsurance penalty, ask your agent for an Agreed Value endorsement on your policy, in addition to insuring your property according to its replacement cost. This endorsement waives any potential coinsurance penalty. There is a small additional cost with most insurance carriers to add this endorsement.

Key man insurance is a life insurance policy for one or more lead pastors, administrators, etc. A key man policy is owned by the ministry and is meant to help compensate the ministry for the death of one of its key leaders. The death benefit can help a church show financial strength to creditors, conduct a proper search for a replacement without worrying about immediate financial needs, and promote a general succession plan.

Ministries should consider a key man policy for the following reasons and circumstances:

To insure the life of any employee who has exceptional knowledge of the intricacies of the ministry

When the reputation of the church is directly tied to the charisma of the pastor

If a bank or lender is requiring a guarantee on their business loan(s)

Affiliations and Designations

Many of our representatives hold professional designations from the following organizations and actively participate in advanced insurance educational programs. To learn more about our representatives or to contact them, click here.